Bill Text: MN HF2188 | 2013-2014 | 88th Legislature | Engrossed
Bill Title: Spousal real estate ownership and mortgage redemption period clarifying and conforming changes made, and transfer on death deeds modified.
Sponsorship: Bipartisan Bill
Status: (Passed) 2014-05-16 - Secretary of State Chapter 266 [HF2188 Detail]
Download: Minnesota-2013-HF2188-Engrossed.html
1.2relating to real property; making clarifying and conforming changes relating to
1.3ownership of real estate by spouses and mortgage redemption periods; modifying
1.4transfer on death deeds; amending Minnesota Statutes 2012, sections 287.20,
1.5subdivision 3a; 358.14; 507.02; 507.071, subdivisions 1, 2, 3, 6, 8, 10; 580.26;
1.6Minnesota Statutes 2013 Supplement, section 507.403, subdivision 5a.
1.7BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.8 Section 1. Minnesota Statutes 2012, section 287.20, subdivision 3a, is amended to read:
1.9 Subd. 3a. Designated transfer. "Designated transfer" means any of the following:
1.10 (1) a transfer between (i) an entity owned by a sole owner, and (ii) that sole owner;
1.11 (2) a transfer between (i) an entity in whicha husband, a wife, or both one or both
1.12spouses who are married to each other are the sole owners, and (ii)the husband, wife, or
1.13both one or both of the spouses;
1.14 (3) a transfer between (i) an entity with multiple co-owners, and (ii) all of the
1.15co-owners, so long as each of the co-owners maintains the same percentage ownership
1.16interest in the transferred real property, whether directly or through ownership of a
1.17percentage of the entity;
1.18 (4) a transfer between (i) a revocable trust, and (ii) the grantor or grantors of the
1.19revocable trust; or
1.20 (5) a transfer of substantially all of the assets of one or more entities pursuant to a
1.21reorganization, as defined in section287.20, subdivision 9 .
1.22 For purposes of this definition of designated transfer, an interest in an entity that is
1.23owned, directly or indirectly, by or for another entity shall be considered as being owned
1.24proportionately by or for the owners of the other entity under provisions similar to those
1.25of section 267(c)(1) and (5) of the Internal Revenue Code.
2.1 Sec. 2. Minnesota Statutes 2012, section 358.14, is amended to read:
2.2358.14 MARRIED PERSONS.
2.3No separate examination of each spouse shall be required, but ifhusband and wife
2.4 spouses join in and acknowledge the execution of any instrument, they shall be described
2.5in the certificate of acknowledgmentas husband and wife in a manner that indicates
2.6they are married to each other; and, if they acknowledge it before different officers, or
2.7before the same officer at different times, each shall be described in the certificate as
2.8the spouse of the other.
2.9 Sec. 3. Minnesota Statutes 2012, section 507.02, is amended to read:
2.10507.02 CONVEYANCES BY SPOUSES; POWERS OF ATTORNEY.
2.11If the owner is married, no conveyance of the homestead, except a mortgage for
2.12purchase money under section507.03 , a conveyance between spouses pursuant to section
2.13500.19, subdivision 4
, or a severance of a joint tenancy pursuant to section
500.19,
2.14subdivision 5 , shall be valid without the signatures of both spouses. A spouse's signature
2.15may be made by the spouse's duly appointed attorney-in-fact.
2.16A husband and wife, by their joint deed, Spouses who are married to each other may
2.17convey the real estate of either by their joint deed. A spouse, by separate deed, may convey
2.18any real estate owned by that spouse, except the homestead, subject to the rights of the
2.19other spouse therein; and either spouse may, by separate conveyance, relinquish all rights in
2.20the real estate so conveyed by the other spouse. Subject to the foregoing provisions, either
2.21spouse may separately appoint an attorney-in-fact to sell or convey any real estate owned
2.22by that spouse, or join in any conveyance made by or for the other spouse. Use of a power
2.23of attorney is subject to section518.58, subdivision 1a . A minor spouse has legal capacity
2.24to join in a conveyance of real estate owned by the other spouse, so long as the minor
2.25spouse is not incapacitated because of some reason other than that spouse's minor age.
2.26 Sec. 4. Minnesota Statutes 2012, section 507.071, subdivision 1, is amended to read:
2.27 Subdivision 1. Definitions. For the purposes of this section the following terms
2.28have the meanings given:
2.29 (a) "Beneficiary" or "grantee beneficiary" means a person or entity named as a
2.30grantee beneficiary in a transfer on death deed, including a successor grantee beneficiary.
2.31 (b) "County agency" means the county department or office designated to recover
2.32medical assistance benefits from the estates of decedents.
2.33 (c) "Grantor owner" means an owner, whether individually, as a joint tenant, or as
2.34a tenant in common, named as a grantor in a transfer on death deed upon whose death
3.1the conveyance or transfer of the described real property is conditioned. Grantor owner
3.2does not include a spouse who joins in a transfer on death deed solely for the purpose
3.3of conveying or releasing statutory or other marital interests in the real property to be
3.4conveyed or transferred by the transfer on death deed.
3.5 (d) "Owner" means a person having an ownership or other interest in all or part of
3.6the real property to be conveyed or transferred by a transfer on death deed either at the
3.7time the deed is executed or at the time the transfer becomes effective. Owner does not
3.8include a spouse who joins in a transfer on death deed solely for the purpose of conveying
3.9or releasing statutory or other marital interests in the real property to be conveyed or
3.10transferred by the transfer on death deed.
3.11 (e) "Property" and "interest in real property" mean any interest in real property
3.12located in this state which is transferable on the death of the owner and includes, without
3.13limitation, an interest in real property defined in chapter 500, a mortgage, a deed of trust, a
3.14security interest in, or a security pledge of, an interest in real property, including the rights
3.15to payments of the indebtedness secured by the security instrument, a judgment, a tax lien,
3.16both the seller's and purchaser's interest in a contract for deed, land contract, purchase
3.17agreement, or earnest money contract for the sale and purchase of real property, including
3.18the rights to payments under such contracts, or any other lien on, or interest in, real property.
3.19(e) (f) "Recorded" means recorded in the office of the county recorder or registrar of
3.20titles, as appropriate for the real property described in the instrument to be recorded.
3.21(f) (g) "State agency" means the Department of Human Services or any successor
3.22agency.
3.23(g) (h) "Transfer on death deed" means a deed authorized under this section.
3.24 Sec. 5. Minnesota Statutes 2012, section 507.071, subdivision 2, is amended to read:
3.25 Subd. 2. Effect of transfer on death deed. A deed that conveys or assigns an
3.26interest in real property,including a mortgage, judgment, or any other lien on real property,
3.27 to a grantee beneficiary and that expressly states that the deed is only effective on the death
3.28of one or more of the grantor owners, transfers the interest to the grantee beneficiary upon
3.29the death of the grantor owner upon whose death the conveyance or transfer is stated to be
3.30effective, but subject to the survivorship provisions and requirements of section524.2-702 .
3.31A transfer on death deed must comply with all provisions of Minnesota law applicable
3.32to deeds of real property including, but not limited to, the provisions of sections507.02 ,
3.33507.24
,
507.34 ,
508.48 , and
508A.48 . If a spouse who is neither a grantor owner nor an
3.34owner joins in the execution of, or consents in writing to, the transfer on death deed, such
3.35joinder or consent shall be conclusive proof that upon the transfer becoming effective, the
4.1spouse no longer has or can claim any statutory interest or other marital interest in the
4.2interest in real property transferred by the transfer on death deed. However, such transfer
4.3shall remain an interest as identified in section 256B.15 for purposes of complying with
4.4and satisfying any claim or lien as authorized by subdivision 3 of this section.
4.5 Sec. 6. Minnesota Statutes 2012, section 507.071, subdivision 3, is amended to read:
4.6 Subd. 3. Rights of creditors and rights of state and county under sections246.53 ,
4.7256B.15
,
256D.16 ,
261.04 , and
514.981 . The interest transferred to a beneficiary under a
4.8transfer on death deed after the death of a grantor owner is transferred subject to all effective
4.9conveyances, assignments, contracts, mortgages, deeds of trust, liens, security pledges,
4.10judgments, tax liens, and any other matters or encumbrancesmade by the grantor owner or
4.11 to which theproperty interest was subject during on the date of death of the grantor owner's
4.12lifetime owner, upon whose death the transfer becomes effective including, but not limited
4.13to, any claim by a surviving spouseor who did not join in the execution of, or consent in
4.14writing to, the transfer on death deed, and any claim or lien by the state or county agency
4.15authorized bysection sections
246.53 ,
256B.15 ,
256D.16 ,
261.04 , or and
514.981 , if other
4.16assets of the deceasedowner's grantor's estate are insufficient to pay the amount of any such
4.17claim. A beneficiary to whom the interest is transferred after the death of a grantor owner
4.18shall be liable to account to the state or county agency with a claim or lien authorized by
4.19section246.53 ,
256B.15 ,
256D.16 ,
261.04 , or
514.981 , to the extent necessary to discharge
4.20any such claim remaining unpaid after application of the assets of the deceased grantor
4.21owner's estate, but such liability shall be limited to the value of the interest transferred
4.22to the beneficiary. To establish compliance with this subdivision and subdivision 23, the
4.23beneficiary must record a clearance certificate issued in accordance with subdivision 23 in
4.24each county in which the real property described in the transfer on death deed is located.
4.25 Sec. 7. Minnesota Statutes 2012, section 507.071, subdivision 6, is amended to read:
4.26 Subd. 6. Multiple joint tenant grantors. If an interest in real property is owned as
4.27joint tenants, a transfer on death deed executed by all of the owners and, if required by
4.28section 507.02, their respective spouses, if any, that conveys an interest in real property
4.29to one or more grantee beneficiaries transfers the interest to the grantee beneficiary or
4.30beneficiaries effective only after the death of the last surviving grantor owner. If the
4.31last surviving joint tenant owner did not execute the transfer on death deed, the deed is
4.32ineffective to transfer any interest and the deed is void. An estate in joint tenancy is not
4.33severed or affected by the subsequent execution of a transfer on death deed and the right of
4.34a surviving joint tenant owner who did not execute the transfer on death deed shall prevail
5.1over a grantee beneficiary named in a transfer on death deed unless the deed specifically
5.2states that it severs the joint tenancy ownership.
5.3 Sec. 8. Minnesota Statutes 2012, section 507.071, subdivision 8, is amended to read:
5.4 Subd. 8. Recording requirements and authorization. A transfer on death deed
5.5is valid if the deed is recorded in a county in which at least a part of the real property
5.6described in the deed is located and is recorded before the death of the grantor owner
5.7upon whose death the conveyance or transfer is effective. A transfer on death deed is not
5.8effective for purposes of section507.34 ,
508.47 , or
508A.47 until the deed is recorded in
5.9the county in which the real property is located. When a transfer on death deed is presented
5.10for recording, no certification by the county auditor as to transfer of ownership and current
5.11and delinquent taxes shall be required or made and the transfer on death deed shall not
5.12be required to be accompanied by a certificate of real estate value. A transfer on death
5.13deed that otherwise satisfies all statutory requirements for recording may be recorded and
5.14shall be accepted for recording in the county in which the property described in the deed is
5.15located. If any part of the property described in the transfer on death deed is registered
5.16property, the registrar of titles shall accept the transfer on death deed for recording only if
5.17at least one of the grantors who executes the transfer on death deed appears of record to
5.18have an ownership interest or other interest in the real property described in the deed. No
5.19certification or approval of a transfer on death deed shall be required of the examiner of
5.20titles prior to recording of the deed in the office of the registrar of titles.
5.21 Sec. 9. Minnesota Statutes 2012, section 507.071, subdivision 10, is amended to read:
5.22 Subd. 10. Revocation or modification of transfer on death deed. (a) A transfer on
5.23death deed may be revoked at any time by the grantor owner or, if there is more than one
5.24grantor owner, by any of the grantor owners. A revocation revokes the transfer on death
5.25deed in its entirety. To be effective, the revocation must be recorded inthe a county in
5.26which at least a part of the real property is located before the death of the grantor owner or
5.27owners who execute the revocation. The revocation is not effective for purposes of section
5.28507.34
,
508.47 , or
508A.47 until the revocation is recorded in the a county in which the
5.29real property is located.Subject to subdivision 6, if the real property is owned as joint
5.30tenants and if the revocation is not executed by all of the grantor owners, the revocation is
5.31not effective unless executed by the last surviving grantor owner.
5.32 (b) If a grantor owner conveys to a third party, subsequent to the recording of the
5.33transfer on death deed, by means other than a transfer on death deed, all or a part of such
5.34grantor owner's interest in the property described in the transfer on death deed, no transfer
6.1of the conveyed interest shall occur on such grantor owner's death and the transfer on
6.2death deed shall be ineffective as to the conveyed or transferred interests, but the transfer
6.3on death deed remains effective with respect to the conveyance or transfer on death of
6.4any other interests described in the transfer on death deed owned by the grantor owner
6.5at the time of the grantor owner's death.
6.6 (c) A transfer on death deed is a "governing instrument" within the meaning of
6.7section524.2-804 and, except as may otherwise be specifically provided for in the
6.8transfer on death deed, is subject to the same provisions as to revocation, revival, and
6.9nonrevocation set forth in section524.2-804 .
6.10 Sec. 10. Minnesota Statutes 2013 Supplement, section 507.403, subdivision 5a,
6.11is amended to read:
6.12 Subd. 5a. Liability. Execution or recording of a wrongful, erroneous, or
6.13unauthorized certificate under this section does not relieve the mortgagor or the
6.14mortgagor's successors or assigns from any personal liability on the obligations secured by
6.15the mortgage, and, in addition to any other remedies provided by law, a person or entity
6.16who wrongfully, erroneously, or without authority executesor records the certificate and
6.17any entity on whose behalf the certificate is wrongfully, erroneously, or without authority
6.18executed or recorded, is liable to the mortgagee, the mortgagee's assigns, or and any person
6.19or entity for actual damages sustained due to the execution or recording of the certificate,
6.20together with reasonable attorney fees, costs, and disbursements incurred by the damaged
6.21party as a result.For purposes of this section, "entity" does not include a natural person.
6.22 Sec. 11. Minnesota Statutes 2012, section 580.26, is amended to read:
6.23580.26 CERTIFICATE OF REDEMPTION; RECORD.
6.24The person or officer from whom such redemption is made shall make and deliver to
6.25the person redeeming a certificate executed and acknowledged in the same manner as a
6.26conveyance, containing:
6.27(1) the name of the person redeeming, and the amount paid by the person on such
6.28redemption;
6.29(2) a description of the sale for which such redemption is made, and of the property
6.30redeemed;
6.31(3) a statement of the claim upon which such redemption is made and, if upon a lien,
6.32the amount claimed to be due thereon at the date of redemption.
6.33If redemption is made by the owner of the property sold, the owner's heirs, personal
6.34representatives, or assigns, such certificate shall be recorded within four days after the
7.1expiration of theyear period allowed by law to the owner for redemption and, if made
7.2by a creditor holding a lien, the certificate shall be recorded within four days after such
7.3redemption. Unless so recorded, the certificate shall be void as against any person in good
7.4faith redeeming from the same person or lien.
1.3ownership of real estate by spouses and mortgage redemption periods; modifying
1.4transfer on death deeds; amending Minnesota Statutes 2012, sections 287.20,
1.5subdivision 3a; 358.14; 507.02; 507.071, subdivisions 1, 2, 3, 6, 8, 10; 580.26;
1.6Minnesota Statutes 2013 Supplement, section 507.403, subdivision 5a.
1.7BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.8 Section 1. Minnesota Statutes 2012, section 287.20, subdivision 3a, is amended to read:
1.9 Subd. 3a. Designated transfer. "Designated transfer" means any of the following:
1.10 (1) a transfer between (i) an entity owned by a sole owner, and (ii) that sole owner;
1.11 (2) a transfer between (i) an entity in which
1.12spouses who are married to each other are the sole owners, and (ii)
1.13
1.14 (3) a transfer between (i) an entity with multiple co-owners, and (ii) all of the
1.15co-owners, so long as each of the co-owners maintains the same percentage ownership
1.16interest in the transferred real property, whether directly or through ownership of a
1.17percentage of the entity;
1.18 (4) a transfer between (i) a revocable trust, and (ii) the grantor or grantors of the
1.19revocable trust; or
1.20 (5) a transfer of substantially all of the assets of one or more entities pursuant to a
1.21reorganization, as defined in section
1.22 For purposes of this definition of designated transfer, an interest in an entity that is
1.23owned, directly or indirectly, by or for another entity shall be considered as being owned
1.24proportionately by or for the owners of the other entity under provisions similar to those
1.25of section 267(c)(1) and (5) of the Internal Revenue Code.
2.1 Sec. 2. Minnesota Statutes 2012, section 358.14, is amended to read:
2.2358.14 MARRIED PERSONS.
2.3No separate examination of each spouse shall be required, but if
2.4 spouses join in and acknowledge the execution of any instrument, they shall be described
2.5in the certificate of acknowledgment
2.6they are married to each other; and, if they acknowledge it before different officers, or
2.7before the same officer at different times, each shall be described in the certificate as
2.8the spouse of the other.
2.9 Sec. 3. Minnesota Statutes 2012, section 507.02, is amended to read:
2.10507.02 CONVEYANCES BY SPOUSES; POWERS OF ATTORNEY.
2.11If the owner is married, no conveyance of the homestead, except a mortgage for
2.12purchase money under section
2.14subdivision 5
2.15may be made by the spouse's duly appointed attorney-in-fact.
2.16
2.17convey the real estate of either by their joint deed. A spouse, by separate deed, may convey
2.18any real estate owned by that spouse, except the homestead, subject to the rights of the
2.19other spouse therein; and either spouse may, by separate conveyance, relinquish all rights in
2.20the real estate so conveyed by the other spouse. Subject to the foregoing provisions, either
2.21spouse may separately appoint an attorney-in-fact to sell or convey any real estate owned
2.22by that spouse, or join in any conveyance made by or for the other spouse. Use of a power
2.23of attorney is subject to section
2.24to join in a conveyance of real estate owned by the other spouse, so long as the minor
2.25spouse is not incapacitated because of some reason other than that spouse's minor age.
2.26 Sec. 4. Minnesota Statutes 2012, section 507.071, subdivision 1, is amended to read:
2.27 Subdivision 1. Definitions. For the purposes of this section the following terms
2.28have the meanings given:
2.29 (a) "Beneficiary" or "grantee beneficiary" means a person or entity named as a
2.30grantee beneficiary in a transfer on death deed, including a successor grantee beneficiary.
2.31 (b) "County agency" means the county department or office designated to recover
2.32medical assistance benefits from the estates of decedents.
2.33 (c) "Grantor owner" means an owner, whether individually, as a joint tenant, or as
2.34a tenant in common, named as a grantor in a transfer on death deed upon whose death
3.1the conveyance or transfer of the described real property is conditioned. Grantor owner
3.2does not include a spouse who joins in a transfer on death deed solely for the purpose
3.3of conveying or releasing statutory or other marital interests in the real property to be
3.4conveyed or transferred by the transfer on death deed.
3.5 (d) "Owner" means a person having an ownership or other interest in all or part of
3.6the real property to be conveyed or transferred by a transfer on death deed either at the
3.7time the deed is executed or at the time the transfer becomes effective. Owner does not
3.8include a spouse who joins in a transfer on death deed solely for the purpose of conveying
3.9or releasing statutory or other marital interests in the real property to be conveyed or
3.10transferred by the transfer on death deed.
3.11 (e) "Property" and "interest in real property" mean any interest in real property
3.12located in this state which is transferable on the death of the owner and includes, without
3.13limitation, an interest in real property defined in chapter 500, a mortgage, a deed of trust, a
3.14security interest in, or a security pledge of, an interest in real property, including the rights
3.15to payments of the indebtedness secured by the security instrument, a judgment, a tax lien,
3.16both the seller's and purchaser's interest in a contract for deed, land contract, purchase
3.17agreement, or earnest money contract for the sale and purchase of real property, including
3.18the rights to payments under such contracts, or any other lien on, or interest in, real property.
3.19
3.20titles, as appropriate for the real property described in the instrument to be recorded.
3.21
3.22agency.
3.23
3.24 Sec. 5. Minnesota Statutes 2012, section 507.071, subdivision 2, is amended to read:
3.25 Subd. 2. Effect of transfer on death deed. A deed that conveys or assigns an
3.26interest in real property,
3.27 to a grantee beneficiary and that expressly states that the deed is only effective on the death
3.28of one or more of the grantor owners, transfers the interest to the grantee beneficiary upon
3.29the death of the grantor owner upon whose death the conveyance or transfer is stated to be
3.30effective, but subject to the survivorship provisions and requirements of section
3.31A transfer on death deed must comply with all provisions of Minnesota law applicable
3.32to deeds of real property including, but not limited to, the provisions of sections
3.34owner joins in the execution of, or consents in writing to, the transfer on death deed, such
3.35joinder or consent shall be conclusive proof that upon the transfer becoming effective, the
4.1spouse no longer has or can claim any statutory interest or other marital interest in the
4.2interest in real property transferred by the transfer on death deed. However, such transfer
4.3shall remain an interest as identified in section 256B.15 for purposes of complying with
4.4and satisfying any claim or lien as authorized by subdivision 3 of this section.
4.5 Sec. 6. Minnesota Statutes 2012, section 507.071, subdivision 3, is amended to read:
4.6 Subd. 3. Rights of creditors and rights of state and county under sections
4.8transfer on death deed after the death of a grantor owner is transferred subject to all effective
4.9conveyances, assignments, contracts, mortgages, deeds of trust, liens, security pledges,
4.10judgments, tax liens, and any other matters or encumbrances
4.11 to which the
4.12
4.13to, any claim by a surviving spouse
4.14writing to, the transfer on death deed, and any claim or lien by the state or county agency
4.15authorized by
4.16assets of the deceased
4.17claim. A beneficiary to whom the interest is transferred after the death of a grantor owner
4.18shall be liable to account to the state or county agency with a claim or lien authorized by
4.19section
4.20any such claim remaining unpaid after application of the assets of the deceased grantor
4.21owner's estate, but such liability shall be limited to the value of the interest transferred
4.22to the beneficiary. To establish compliance with this subdivision and subdivision 23, the
4.23beneficiary must record a clearance certificate issued in accordance with subdivision 23 in
4.24each county in which the real property described in the transfer on death deed is located.
4.25 Sec. 7. Minnesota Statutes 2012, section 507.071, subdivision 6, is amended to read:
4.26 Subd. 6. Multiple joint tenant grantors. If an interest in real property is owned as
4.27joint tenants, a transfer on death deed executed by all of the owners and, if required by
4.28section 507.02, their respective spouses, if any, that conveys an interest in real property
4.29to one or more grantee beneficiaries transfers the interest to the grantee beneficiary or
4.30beneficiaries effective only after the death of the last surviving grantor owner. If the
4.31last surviving joint tenant owner did not execute the transfer on death deed, the deed is
4.32ineffective to transfer any interest and the deed is void. An estate in joint tenancy is not
4.33severed or affected by the subsequent execution of a transfer on death deed and the right of
4.34a surviving joint tenant owner who did not execute the transfer on death deed shall prevail
5.1over a grantee beneficiary named in a transfer on death deed unless the deed specifically
5.2states that it severs the joint tenancy ownership.
5.3 Sec. 8. Minnesota Statutes 2012, section 507.071, subdivision 8, is amended to read:
5.4 Subd. 8. Recording requirements and authorization. A transfer on death deed
5.5is valid if the deed is recorded in a county in which at least a part of the real property
5.6described in the deed is located and is recorded before the death of the grantor owner
5.7upon whose death the conveyance or transfer is effective. A transfer on death deed is not
5.8effective for purposes of section
5.9the county in which the real property is located. When a transfer on death deed is presented
5.10for recording, no certification by the county auditor as to transfer of ownership and current
5.11and delinquent taxes shall be required or made and the transfer on death deed shall not
5.12be required to be accompanied by a certificate of real estate value. A transfer on death
5.13deed that otherwise satisfies all statutory requirements for recording may be recorded and
5.14shall be accepted for recording in the county in which the property described in the deed is
5.15located. If any part of the property described in the transfer on death deed is registered
5.16property, the registrar of titles shall accept the transfer on death deed for recording only if
5.17at least one of the grantors who executes the transfer on death deed appears of record to
5.18have an ownership interest or other interest in the real property described in the deed. No
5.19certification or approval of a transfer on death deed shall be required of the examiner of
5.20titles prior to recording of the deed in the office of the registrar of titles.
5.21 Sec. 9. Minnesota Statutes 2012, section 507.071, subdivision 10, is amended to read:
5.22 Subd. 10. Revocation or modification of transfer on death deed. (a) A transfer on
5.23death deed may be revoked at any time by the grantor owner or, if there is more than one
5.24grantor owner, by any of the grantor owners. A revocation revokes the transfer on death
5.25deed in its entirety. To be effective, the revocation must be recorded in
5.26which at least a part of the real property is located before the death of the grantor owner or
5.27owners who execute the revocation. The revocation is not effective for purposes of section
5.29real property is located.
5.30
5.31
5.32 (b) If a grantor owner conveys to a third party, subsequent to the recording of the
5.33transfer on death deed, by means other than a transfer on death deed, all or a part of such
5.34grantor owner's interest in the property described in the transfer on death deed, no transfer
6.1of the conveyed interest shall occur on such grantor owner's death and the transfer on
6.2death deed shall be ineffective as to the conveyed or transferred interests, but the transfer
6.3on death deed remains effective with respect to the conveyance or transfer on death of
6.4any other interests described in the transfer on death deed owned by the grantor owner
6.5at the time of the grantor owner's death.
6.6 (c) A transfer on death deed is a "governing instrument" within the meaning of
6.7section
6.8transfer on death deed, is subject to the same provisions as to revocation, revival, and
6.9nonrevocation set forth in section
6.10 Sec. 10. Minnesota Statutes 2013 Supplement, section 507.403, subdivision 5a,
6.11is amended to read:
6.12 Subd. 5a. Liability. Execution or recording of a wrongful, erroneous, or
6.13unauthorized certificate under this section does not relieve the mortgagor or the
6.14mortgagor's successors or assigns from any personal liability on the obligations secured by
6.15the mortgage, and, in addition to any other remedies provided by law, a person or entity
6.16who wrongfully, erroneously, or without authority executes
6.17
6.18
6.19or entity for actual damages sustained due to the execution or recording of the certificate,
6.20together with reasonable attorney fees, costs, and disbursements incurred by the damaged
6.21party as a result.
6.22 Sec. 11. Minnesota Statutes 2012, section 580.26, is amended to read:
6.23580.26 CERTIFICATE OF REDEMPTION; RECORD.
6.24The person or officer from whom such redemption is made shall make and deliver to
6.25the person redeeming a certificate executed and acknowledged in the same manner as a
6.26conveyance, containing:
6.27(1) the name of the person redeeming, and the amount paid by the person on such
6.28redemption;
6.29(2) a description of the sale for which such redemption is made, and of the property
6.30redeemed;
6.31(3) a statement of the claim upon which such redemption is made and, if upon a lien,
6.32the amount claimed to be due thereon at the date of redemption.
6.33If redemption is made by the owner of the property sold, the owner's heirs, personal
6.34representatives, or assigns, such certificate shall be recorded within four days after the
7.1expiration of the
7.2by a creditor holding a lien, the certificate shall be recorded within four days after such
7.3redemption. Unless so recorded, the certificate shall be void as against any person in good
7.4faith redeeming from the same person or lien.
